WPC 480 Exam 2026 Questions and
Answers
above-average returns - Correct answer-returns in excess of what an investor
expects to earn from other investments with a similar amount of risk
average returns - Correct answer-are returns equal to those an investor expects to
earn from other investments with a similar amount of risk
capability - Correct answer-the capacity for a set of resources to perform a task or
an activity in an integrative manner
competitive advantage - Correct answer-implementing a chosen strategy, it creates
superior value for customers and when competitors are not able to imitate the value
the firm's products create or find it too expensive to attempt imitation.
core competencies - Correct answer-capabilities that serve as a source of
competitive advantage for a firm over its rivals
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, strategic flexibility - Correct answer-a set of capabilities used to respond to various
demands and opportunities existing in a dynamic and uncertain competitive
environment
hypercompetition - Correct answer-condition where competitors engage in intense
rivalry, markets change quickly and often, and entry barriers are low
Mission Statement - Correct answer-specifies the businesses in which the firm
intends to compete and the customers it intends to serve.
organizational culture - Correct answer-refers to the complex set of ideologies,
symbols, and core value that individuals throughout the firm share and that
influence how the firm conducts business.
strategic competitiveness - Correct answer-formulating and implementing a value
creating strategy.
strategic leaders - Correct answer-people located in different areas and levels of the
firm using the strategic management process to select strategic actions that help the
firm achieve its vision and fulfill its mission
strategic management process - Correct answer-full set of commitments, decisions,
and actions firms take to achieve strategic competitiveness and earn above-average
returns.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Answers
above-average returns - Correct answer-returns in excess of what an investor
expects to earn from other investments with a similar amount of risk
average returns - Correct answer-are returns equal to those an investor expects to
earn from other investments with a similar amount of risk
capability - Correct answer-the capacity for a set of resources to perform a task or
an activity in an integrative manner
competitive advantage - Correct answer-implementing a chosen strategy, it creates
superior value for customers and when competitors are not able to imitate the value
the firm's products create or find it too expensive to attempt imitation.
core competencies - Correct answer-capabilities that serve as a source of
competitive advantage for a firm over its rivals
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, strategic flexibility - Correct answer-a set of capabilities used to respond to various
demands and opportunities existing in a dynamic and uncertain competitive
environment
hypercompetition - Correct answer-condition where competitors engage in intense
rivalry, markets change quickly and often, and entry barriers are low
Mission Statement - Correct answer-specifies the businesses in which the firm
intends to compete and the customers it intends to serve.
organizational culture - Correct answer-refers to the complex set of ideologies,
symbols, and core value that individuals throughout the firm share and that
influence how the firm conducts business.
strategic competitiveness - Correct answer-formulating and implementing a value
creating strategy.
strategic leaders - Correct answer-people located in different areas and levels of the
firm using the strategic management process to select strategic actions that help the
firm achieve its vision and fulfill its mission
strategic management process - Correct answer-full set of commitments, decisions,
and actions firms take to achieve strategic competitiveness and earn above-average
returns.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
